MICRO HYDRO SHARE OFFER SUCCESS!
We’re delighted to announce that our second micro hydro co-operative share offer has been a success and is now closed. If you’d like to find out about future share offers, please sign up to our newsletter.
While we haven’t yet raised our full target amount of £690,000, we have secured well over the minimum £550,000 we need to proceed with the project.
We’re now seeking loan finance to fund the balance (see widget, right, for our latest tally).
The project aims to build four small-scale micro hydro schemes in the Brecon Beacons National Park. The schemes will generate some 355MWh of renewable electricity a year – enough to power 90 homes and displace around 158 tonnes of CO2 a year.
They’ll also generate income, with the profits shared equally between Members and a special Community Fund that will be used to support further sustainable projects.
For Members, this means a projected return of 5% per annum, averaged over 20 years. Plus there’s potential for attractive tax relief benefits through the Enterprise Investment Scheme.
Meanwhile, the Community Fund should receive some £550,000 over the 20 years, giving us the chance to develop other projects that will make a real and lasting difference.
To find out more about this exciting project click here to read more.